GlaxoSmithKline Consumer Healthcare half-yearly PAT up by 17.8%

Gurgaon, July 28, 2006: GlaxoSmithKline Consumer Healthcare Limited (GSKCH) today declared its financial results for the half-year ended June 30, 2006 . For these 6 months, sales stood at Rs. 596.3 crores, representing growth of 12.5%. PAT rose 17.8% to Rs.65.4 crores and PBT grew 26.1 % to Rs.103.0 crores.

The increase in PAT is driven by continuing strong sales performance of our flagship brand Horlicks. 

The month of April witnessed significant activities on Chocolate Horlicks through a summer promotion to encourage consumption of the drink in a cold format. This was followed by an innovative relaunch of Junior Horlicks as the 'nutrition expert' for pre-schoolers which was supported by breakthrough packaging and a new improved formulation.  

"Despite increase in input costs the Company has registered a healthy YTD total income of Rs. 596.3 crores and an increase in profits by 17.8%. This has been achieved largely through innovative procurement initiatives such as e-sourcing events for key commodities and effective cost containment agreements with suppliers to mitigate the impact of cost pressures," said Nick Massey, Managing Director: GlaxoSmithKline Consumer Healthcare Ltd.       

For the quarter ended June 30, 2006, sales stood at Rs.293.0 crores, 6.3% over last year. For the same period, PBT amounted to Rs.48.9 crores, representing a growth of 11.1% while PAT stood at Rs. 30.9 Crores; a growth of 6.2 % over 2005 levels. _________________________________________________________________________

About GlaxoSmithKline Consumer Healthcare Ltd.  

GSKCH is an associate of GlaxoSmithKline plc. of the U.K, a global science based healthcare company. GSKCH has continually benefited from the technical and marketing inputs that have been available as a consequence of this association. GSKCH is one of the largest players in the health food drinks industry. The Company with its manufacturing plants located in Nabha, Rajahmundry and Sonepat has a total workforce of about 2700 people.  

GSKCH has a strong marketing and distribution network in India comprising over 1800 wholesalers and direct coverage of over 4,50,000 retail outlets. Its flagship product, Horlicks, is a widely regarded and highly respected brand for over 100 years. The Company also manufactures and markets Boost, Viva and Maltova and in addition markets and distributes a number of products in diverse categories, which include prominent household names such as Eno, Crocin and Iodex.